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Definition

Corporate charter

Corporate charter is the legal document that formally establishes a corporation.


Corporate charter is a document issued by a government that contains all information stated in the original application for a charter plus the powers, rights, and privileges or the corporation as prescribed by law.

The charter describes the corporation's purpose and its intended business. A charter generally includes the following information:

1. Company name; names and addresses of incorporations; location of main office. 

2. Purpose for which the corporation is being formed

3. Length of life (may be perpetual)

4. Amount and Kind of stock the corporation wants authorization to issue

5. Names, addresses, and powers of the original board of directors

6. Dates and times of shareholders' and directors' meetings

7. Names of initial subscribers to stock shares

8. Procedure to amend, alter, or repeal any provision contained in the original articles of incorporation (if the law permits).

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